The Monthly Payment Plan (MPP) allows you to divide your educational expenses into convenient monthly payments per semester.
Enrollment in the plan does represent a contractual agreement with the University. Proxies may establish a monthly payment plan on behalf of the student if they are a fully authorized designated proxy on CaneLink.
For a step-by-step guide on enrolling in the MPP, please click here.
Monthly Payment Plan Guidelines:
- The first payment of each semester is deducted on the billing due date (ex: August 8)
- Monthly Auto payment is deducted each month on the same day after the first installment (ex: September 8, October 8, November 8)
- Monthly Auto Payment Reminder – 5 days prior
- ACH Insufficient Funds Return - $25 Servicer Fee (non-refundable)
- Missed Installment – Next Installment Doubled
- ACH Return Reattempts – 1 reattempt
- No Reattempts for declined credit card payments
- The 2.3 % credit card service fee is non-refundable
- Number of Missed Installments before termination – 2 missed installments
- There is a 3% non-refundable Participation Fee to enroll in the payment plan
The balance due will reflect on the student’s account until the payment plan has been paid in full.
If additional charges are incurred, they may be added to the payment plan, future installments will increase accordingly, and the 3% non-refundable Participation Fee will be assessed. Added charges will be updated before the next installment payment.
If a credit is applied to the student’s account, the amount due will be reflected accordingly after each semester's Add/Drop period. The credit will be included when the second installment is due.
Any failed installment payment may terminate this Monthly Payment Plan Agreement. The outstanding balance will be due immediately and a financial hold will be placed on the student account.
*Executive/Professional MBA students and UM employees are ineligible to participate in the Monthly Payment Plan.
